No matter how advantageous the prices may be to buy, the investor’s home kitchen will likely need to be updated. Bathrooms and kitchens are the most expensive remodeling projects per square foot. This makes it understandable that the current owners may not have made these renovations or updates, especially if they were just struggling to make the mortgage payments.
A common challenge when preparing an investment home for the market is assessing damage caused by previous owners or tenants. Quite often, investors find that all the cabinets have been ripped out of the kitchen. Investors know that kitchens are the most expensive rooms to remodel and improve. They also know that cabinets are about half the cost of a kitchen upgrade.
Before an investor can begin the effort to remodel a home, kitchen improvements will probably be needed. This has become part of the investment property landscape. There’s good news, though: there are smart ways to install high-quality cabinets at a fraction of the cost.
There are several ways to buy kitchen furniture:
- Custom cabinets, completely made to order, are the most expensive option.
- Semi-custom cabinets are only available in standard sizes, but there is a good variety in terms of styles, interior options, finishes, fixtures, and wood options.
- Stock cabinets offer much more limited options. They will be available in only a limited number of styles, finishes and woods. They also come only in standard sizes.
- Knockout cabinets are ready to be taken home from the store and installed. There will be relatively little variety in sizes, finishes, and styles.
The size and value of the house will ultimately determine the amount you are willing to spend to improve the kitchen in any home. Custom kitchens are certainly desirable; but they may not be profitable. On the other hand, you may want more flexibility than you might expect from knockout or stock cabinets.
The challenge when updating a kitchen on a budget is limiting the cost and getting the best cabinets you can afford. Virtually all surveys conducted on why people do or do not buy private homes indicate the importance of kitchens and bathrooms. Because cabinets define the style and design of a kitchen, they are vitally important when potential buyers view a home.
There is a way to save big when you upgrade the kitchen in an investment property. By working with the right cabinetmaker, you can install cabinets that have all the features of custom cabinets for less than the average price of a semi-custom job. Your cabinetmaker can work with store-bought or semi-custom cabinets and customize them to meet your needs for a high-quality kitchen in an investment property.
Your cabinetmaker will help you design kitchen improvements and remodels using standard or semi-custom cabinets whenever possible. Then he’ll customize other cabinets to fit unusual spaces, to include accessibility and organization features, and even to offer specialized storage options. Because this craftsman buys directly from the manufacturer, the price of the cabinets will often be less than the price of lower-quality cabinets at a home improvement store.
By working closely with an innovative cabinetmaker, you can remodel each investor’s kitchen with beautiful cabinets that will increase the value of the home when you’re ready to sell it. Because your cabinetmaker can customize cabinets to meet each homeowner’s needs, you can revamp your investment properties with higher-quality cabinets and add unique custom features that will help kitchens sell their properties.
